Actuarial Outpost
 
Go Back   Actuarial Outpost > Exams - Please Limit Discussion to Exam-Related Topics > SoA/CAS Preliminary Exams > Exam 4/C - Construction and Evaluation of Actuarial Models
FlashChat Actuarial Discussion Preliminary Exams CAS/SOA Exams Cyberchat Around the World Suggestions

DW Simpson Global Actuarial Recruitment

Reply
 
Thread Tools Display Modes
  #1  
Old 04-19-2010, 09:27 AM
colby2152's Avatar
colby2152 colby2152 is offline
Note Contributor
SOA
 
Join Date: Feb 2006
Location: Virginia
Studying for FA, GH Core
College: PSU '07
Favorite beer: Oskar Blues Old Chub Scotch Ale
Posts: 4,176
Default SOA 289 #124

I understand the SOA's solution, but I am not sure as why mine doesn't work.

, we agree there





__________________
P, FM, MLC, MFE, C, FAPmods, APC, VEE, IA, HFmod, FHEmod, FA, GH Core, PRFmod, GH Adv, GH Spec, DMAC, FAC

How to explain actuarial exams to someone else...

Good Einstein quote - "One had to cram all this stuff into one's mind for the examinations, whether one liked it or not. This coercion had such a deterring effect on me that, after I had passed the final examination, I found the consideration of any scientific problems distasteful to me for an entire year."
Reply With Quote
  #2  
Old 04-19-2010, 09:57 AM
Gandalf's Avatar
Gandalf Gandalf is offline
Site Supporter
Site Supporter
SOA
 
Join Date: Nov 2001
Location: Middle Earth
Posts: 26,464
Default

You include the case that 3 scientists are eaten (as you should).

If three are eaten, what is the probility that exactly 2 of them exceed 8000 calories? You are using .25, and you shouldn't.

Similarly for 4,5,... scientists eaten.
Reply With Quote
  #3  
Old 04-19-2010, 10:55 AM
colby2152's Avatar
colby2152 colby2152 is offline
Note Contributor
SOA
 
Join Date: Feb 2006
Location: Virginia
Studying for FA, GH Core
College: PSU '07
Favorite beer: Oskar Blues Old Chub Scotch Ale
Posts: 4,176
Default

Quote:
Originally Posted by Gandalf View Post
You include the case that 3 scientists are eaten (as you should).

If three are eaten, what is the probility that exactly 2 of them exceed 8000 calories? You are using .25, and you shouldn't.

Similarly for 4,5,... scientists eaten.
The probability that one of them is eaten is the same as them not being eaten. Therefore, the probability that two of three are eaten is the same as none of them being eaten, or one, or three... .

Thanks for the response Gandalf, but what am I missing?
__________________
P, FM, MLC, MFE, C, FAPmods, APC, VEE, IA, HFmod, FHEmod, FA, GH Core, PRFmod, GH Adv, GH Spec, DMAC, FAC

How to explain actuarial exams to someone else...

Good Einstein quote - "One had to cram all this stuff into one's mind for the examinations, whether one liked it or not. This coercion had such a deterring effect on me that, after I had passed the final examination, I found the consideration of any scientific problems distasteful to me for an entire year."
Reply With Quote
  #4  
Old 04-19-2010, 11:10 AM
Gandalf's Avatar
Gandalf Gandalf is offline
Site Supporter
Site Supporter
SOA
 
Join Date: Nov 2001
Location: Middle Earth
Posts: 26,464
Default

Quote:
Originally Posted by colby2152 View Post
The probability that one of them is eaten is the same as them not being eaten. Therefore, the probability that two of three are eaten is the same as none of them being eaten, or one, or three... .

Thanks for the response Gandalf, but what am I missing?
That .5^3 for each case is wrong. By that logic:
p(0)+p(1)+p(2)+p(3) = 4/8. Where's the rest of the probability? exactly 2.5 exceed 8000? more than 3 of 3 exceed 8000?

The specific answer for the 3 eaten case is that p(2) = (3 choose 2)(.5^2)(.5) = .375.

The general problem with your approach is that you effectively assumed p(2) = .25 independent of how many were eaten. I don't think that approach - summing p(exactly n eaten)*p(exactly 2 over 8000 | exactly n eaten) - is feasible with a calculator, but it should work in Excel.
Reply With Quote
  #5  
Old 04-19-2010, 11:20 AM
colby2152's Avatar
colby2152 colby2152 is offline
Note Contributor
SOA
 
Join Date: Feb 2006
Location: Virginia
Studying for FA, GH Core
College: PSU '07
Favorite beer: Oskar Blues Old Chub Scotch Ale
Posts: 4,176
Default

Hmm, I did disregard the combinations since the probability was 50%. Was that my problem?
__________________
P, FM, MLC, MFE, C, FAPmods, APC, VEE, IA, HFmod, FHEmod, FA, GH Core, PRFmod, GH Adv, GH Spec, DMAC, FAC

How to explain actuarial exams to someone else...

Good Einstein quote - "One had to cram all this stuff into one's mind for the examinations, whether one liked it or not. This coercion had such a deterring effect on me that, after I had passed the final examination, I found the consideration of any scientific problems distasteful to me for an entire year."
Reply With Quote
  #6  
Old 04-19-2010, 11:31 AM
Gandalf's Avatar
Gandalf Gandalf is offline
Site Supporter
Site Supporter
SOA
 
Join Date: Nov 2001
Location: Middle Earth
Posts: 26,464
Default

Your problem is this:
Quote:
Originally Posted by colby2152 View Post
The correct formula would be

Since depends on n, you cannot convert it to a single value or take it outside the summation.

And you can't do the summation on an SOA calculator.
Reply With Quote
  #7  
Old 04-20-2010, 10:22 PM
jhp8's Avatar
jhp8 jhp8 is offline
Member
 
Join Date: Jan 2007
Posts: 278
Default

Quote:
Originally Posted by colby2152 View Post
I understand the SOA's solution, but I am not sure as why mine doesn't work.

, we agree there





Not to hi-jack the thread, but I don't really understand the SOA answer either.

"Since each time the probability of a heavy scientist is just half the probability of a success, the distribution is binomial with q = 0.6×0.5 = 0.3 and m = 8."

I understand the idea of modifying the binomial, but I am not sure why we can apply this to this problem.
Reply With Quote
  #8  
Old 04-20-2010, 10:29 PM
ZeroUrashima ZeroUrashima is offline
Member
 
Join Date: Apr 2010
Posts: 30
Default

You just change the definition of "success".

The original N was the number of scientists eaten.
You change N to N* which is the number of scientists eaten AND above 8000 Calories.

So out of the original q=0.6, 0.3 is Above or Equal 8000 Calories, 0.3 is Below 8000 Calories. The 0.3 that is below 8000 calories would also be a a "failure" in the new distribution.

N* ~ Bino (q*=0.3,m=8)

Then Find P(N*=2)
Reply With Quote
  #9  
Old 04-20-2010, 10:38 PM
jhp8's Avatar
jhp8 jhp8 is offline
Member
 
Join Date: Jan 2007
Posts: 278
Default

Quote:
Originally Posted by ZeroUrashima View Post
You just change the definition of "success".

The original N was the number of scientists eaten.
You change N to N* which is the number of scientists eaten AND above 8000 Calories.

So out of the original q=0.6, 0.3 is Above or Equal 8000 Calories, 0.3 is Below 8000 Calories. The 0.3 that is below 8000 calories would also be a a "failure" in the new distribution.

N* ~ Bino (q*=0.3,m=8)

Then Find P(N*=2)
Thanks....that really helped clear it up. Your explanation made me realize the piece I was missing was that point if two scientists are eaten and have > 8,000 calories, the first statement "Calculate the probability that two or more scientist are eaten" is automatically true and doesn't have to be accounted for.
Reply With Quote
  #10  
Old 01-07-2011, 03:25 PM
SDY2010 SDY2010 is offline
 
Join Date: Nov 2010
Posts: 6
Default

I understand that q is modified to be 0.3.

The part of the solution that solves for Pr(N*=2) seems wrong. The question states that you want the probability that 2 or more scientists are eaten, not just 2.

Why would you not solve:
1-Pr(N*=0)-Pr(N*=1)
=1-(0.7^8)-[(8)*(0.3)*(0.7^7)]
Reply With Quote
Reply

Tags
allosaur, dinoz arr wierd, exam c, probability, soa 289

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off


All times are GMT -4. The time now is 06:57 PM.


Powered by vBulletin®
Copyright ©2000 - 2013, Jelsoft Enterprises Ltd.
*PLEASE NOTE: Posts are not checked for accuracy, and do not
represent the views of the Actuarial Outpost or its sponsors.
Page generated in 0.26970 seconds with 7 queries